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Canadian Pacific Railway
CP announced results from its 2012 annual meeting of shareholders. Shareholders voted in favour of all items of business. The Company announced its 16 directors, who will serve until the next annual meeting of shareholders, listed as follows:
William Ackman
Gary Colter
Richard George
Paul Haggis
Paul Hilal
Krystyna Hoeg
Tony Ingram
Richard Kelly
The Hon. John Manley, P.C. , O.C.
Rebecca MacDonald
Anthony Melman
Linda Morgan
David Raisbeck
Hartley Richardson, C.M., O.M.
Madeleine Paquin
Stephen Tobias
Following the Annual General Meeting, the Board selected Madeleine Paquin to serve as acting Chair of the Company and issued the following statement:
"The Board of Directors of Canadian Pacific is united in its commitment to serving the best interests of this great Company. We are confident in the depth and breadth of this Board and its ability to work with the management and all CP employees to serve our customers and communities. We are looking forward to working together to build value for our shareholders."
The Board appointed a search committee to identify a permanent CEO.
The Board also appointed newly-elected Director, Stephen Tobias, as interim CEO. Mr Tobias is a 40-year veteran of the railroad industry and former Vice Chair and Chief Operations Officer of Norfolk Southern Corporation. In 2008, Tobias was awarded Railway Age's "Railroader of the Year" award, the industry's highest honour.
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